The July Federal Order Class III benchmark milk price fell to $13.77 per hundredweight, down $1.14 from June, $8.75 below July 2022, and the lowest Class III price since May 2020. That put the seven month average at $16.95, down from $22.89 at this time a year ago and compares to $16.90 in 2021.
Class III futures portend an August price at $17.49; September, $17.53; October, $17.97; November, $18.22; and December at $18.22.
The July Class IV is $18.26, unchanged from June but $7.53 below a year ago. Its average stands at $18.55, down from $24.83 a year ago and compares to $15.01 in 2021. Courtesty of the Mielke Market Weekly
